Refer to the data given for the North Company in Problem P12-2A a. Calculate the change in

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Refer to the data given for the North Company in Problem P12-2A

a. Calculate the change in cash that occurred during 2019.

b. Prepare a statement of cash flows using the direct method.

Problem P12-2A

North Company's income statement and comparative balance sheets as of December 31 of 2019 and 2018 follow:

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During 2019, North sold land for $\$ 70,000$ cash that had originally cost $\$ 45,000$. North also purchased equipment for cash, acquired treasury stock for cash, and issued bonds payable for cash. Accounts payable relate to merchandise purchases.

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Financial Accounting For Undergraduates

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Authors: Wallace

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Refer to the data given for the North Company in Problem P12-2A a. Calculate the change in

Question:

Sales revenue. Cost of goods sold. Wages expense Advertising expense. Depreciation expense.. Interest expense... Gain on sale of land. Net loss..... NORTH COMPANY Income Statement For the Year Ended December 31, 2019 $550,000 195,000 31,000 24,000 20,000 (25,000) $770,000 795,000 $ (25,000)

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Financial Accounting For Undergraduates

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